EntryPoint Capital LLC Acquires Shares of 6,690 TrustCo Bank Corp NY (NASDAQ:TRST)

EntryPoint Capital LLC bought a new position in TrustCo Bank Corp NY (NASDAQ:TRST) during the 4th quarter, Holdings Channel reports. The fund bought 6,690 shares of the bank’s stock, valued at approximately $223,000.

Other hedge funds also recently made changes to their positions in the company. Systematic Financial Management LP grew its holdings in TrustCo Bank Corp NY by 17.0% during the 3rd quarter. Systematic Financial Management LP now owns 1,109,561 shares of the bank’s stock valued at $36,693,000 after buying an additional 161,001 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of TrustCo Bank Corp NY by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 442,783 shares of the bank’s stock valued at $14,646,000 after acquiring an additional 6,249 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of TrustCo Bank Corp NY by 9.5% in the fourth quarter. American Century Companies Inc. now owns 407,703 shares of the bank’s stock valued at $13,581,000 after purchasing an additional 35,343 shares in the last quarter. Verition Fund Management LLC increased its position in TrustCo Bank Corp NY by 35.2% in the third quarter. Verition Fund Management LLC now owns 290,208 shares of the bank’s stock worth $9,597,000 after purchasing an additional 75,594 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in TrustCo Bank Corp NY by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 177,238 shares of the bank’s stock valued at $5,904,000 after purchasing an additional 6,867 shares in the last quarter. 68.57% of the stock is currently owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Stock Down 1.5 %

TRST stock opened at $30.50 on Friday. The company has a fifty day simple moving average of $31.95 and a two-hundred day simple moving average of $33.39. TrustCo Bank Corp NY has a 52 week low of $25.83 and a 52 week high of $38.89. The firm has a market capitalization of $580.11 million, a P/E ratio of 11.87 and a beta of 0.80.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.59 EPS for the quarter. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%.

TrustCo Bank Corp NY declared that its board has approved a stock repurchase program on Tuesday, March 18th that permits the company to buyback 0 shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

TrustCo Bank Corp NY Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Friday, March 7th. TrustCo Bank Corp NY’s dividend payout ratio is currently 56.03%.

TrustCo Bank Corp NY Profile

TrustCo Bank Corp NY operates as the holding company for Trustco Bank, a federal savings bank that provides personal and business banking services to individuals and businesses. The company accepts deposits; and offers loans and investments. It also operates as a real estate investment trust that acquires, holds, and manages real estate mortgage assets, including residential mortgage loans and mortgage-backed securities.